Principal Financial Group Inc. Increases Stake in Barrett Business Services, Inc. (NASDAQ:BBSI)

Principal Financial Group Inc. increased its position in shares of Barrett Business Services, Inc. (NASDAQ:BBSI) by 29.7% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 17,300 shares of the business services provider’s stock after purchasing an additional 3,960 shares during the period. Principal Financial Group Inc.’s holdings in Barrett Business Services were worth $649,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in BBSI. CWM LLC boosted its position in shares of Barrett Business Services by 12,014.3% during the second quarter. CWM LLC now owns 848 shares of the business services provider’s stock valued at $28,000 after buying an additional 841 shares during the period. Amalgamated Bank raised its holdings in shares of Barrett Business Services by 300.0% in the second quarter. Amalgamated Bank now owns 936 shares of the business services provider’s stock worth $31,000 after buying an additional 702 shares during the period. USA Financial Formulas bought a new stake in shares of Barrett Business Services during the 3rd quarter worth approximately $60,000. Nisa Investment Advisors LLC grew its position in Barrett Business Services by 415.2% in the 2nd quarter. Nisa Investment Advisors LLC now owns 2,906 shares of the business services provider’s stock valued at $95,000 after acquiring an additional 2,342 shares during the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank increased its stake in Barrett Business Services by 300.0% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,280 shares of the business services provider’s stock worth $107,000 after purchasing an additional 2,460 shares during the period. 86.76% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Barrett Business Services

In other Barrett Business Services news, Director Joseph Stephen Clabby acquired 1,635 shares of the company’s stock in a transaction dated Tuesday, November 12th. The shares were purchased at an average cost of $43.01 per share, for a total transaction of $70,321.35. Following the completion of the purchase, the director now owns 11,327 shares in the company, valued at approximately $487,174.27. This trade represents a 16.87 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Director Thomas J. Carley sold 4,584 shares of the business’s stock in a transaction that occurred on Tuesday, November 19th. The stock was sold at an average price of $41.24, for a total transaction of $189,044.16. Following the completion of the transaction, the director now directly owns 91,628 shares of the company’s stock, valued at $3,778,738.72. This trade represents a 4.76 % decrease in their position. The disclosure for this sale can be found here. Insiders own 3.70% of the company’s stock.

Wall Street Analysts Forecast Growth

BBSI has been the subject of a number of recent analyst reports. Roth Mkm boosted their target price on shares of Barrett Business Services from $43.00 to $45.00 and gave the company a “buy” rating in a research note on Thursday, November 7th. Barrington Research boosted their price objective on shares of Barrett Business Services from $41.00 to $45.00 and gave the company an “outperform” rating in a research report on Thursday, November 7th. Finally, StockNews.com raised shares of Barrett Business Services from a “hold” rating to a “buy” rating in a research report on Tuesday, November 19th.

Barrett Business Services Trading Up 1.4 %

BBSI opened at $42.76 on Friday. The company has a market capitalization of $1.11 billion, a price-to-earnings ratio of 22.56, a PEG ratio of 1.41 and a beta of 1.39. Barrett Business Services, Inc. has a 12-month low of $26.60 and a 12-month high of $43.29. The business’s fifty day simple moving average is $38.20 and its 200-day simple moving average is $35.34.

Barrett Business Services Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, December 6th. Shareholders of record on Friday, November 22nd will be issued a dividend of $0.08 per share. This represents a $0.32 annualized dividend and a yield of 0.75%. The ex-dividend date of this dividend is Friday, November 22nd. Barrett Business Services’s payout ratio is 16.89%.

Barrett Business Services Profile

Barrett Business Services, Inc provides business management solutions for small and mid-sized companies in the United States. The company develops a management platform that integrates a knowledge-based approach from the management consulting industry with tools from the human resource outsourcing industry.